Japan to cut aircraft price

Japan is negotiating the sale of Shinmaywa US-2 search and rescue aircraft with India not for any economic gain but because it considers India a friendly country. Tokyo has said amid reports that the deal for 12 amphibious aircraft had collapsed over pricing and technology transfer issues. Top Japanese defence ministry sources say that they would look at reducing the price for the $ 1.6 billion aircraft dea,l as much as possible, in a fresh attempt to revive the negotiations. The agreement, if it happens, will have a huge symbolic significance as a message to China about deepening defence and security cooperation between India and Japan, both victims of Chinese territorial aggression.